Correlation Between Massmutual Premier and Saat Aggressive
Can any of the company-specific risk be diversified away by investing in both Massmutual Premier and Saat Aggressive at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Massmutual Premier and Saat Aggressive into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Massmutual Premier Funds and Saat Aggressive Strategy, you can compare the effects of market volatilities on Massmutual Premier and Saat Aggressive and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Massmutual Premier with a short position of Saat Aggressive. Check out your portfolio center. Please also check ongoing floating volatility patterns of Massmutual Premier and Saat Aggressive.
Diversification Opportunities for Massmutual Premier and Saat Aggressive
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Massmutual and Saat is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Premier Funds and Saat Aggressive Strategy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saat Aggressive Strategy and Massmutual Premier is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Massmutual Premier Funds are associated (or correlated) with Saat Aggressive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saat Aggressive Strategy has no effect on the direction of Massmutual Premier i.e., Massmutual Premier and Saat Aggressive go up and down completely randomly.
Pair Corralation between Massmutual Premier and Saat Aggressive
If you would invest 1,444 in Saat Aggressive Strategy on August 29, 2024 and sell it today you would earn a total of 22.00 from holding Saat Aggressive Strategy or generate 1.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Massmutual Premier Funds vs. Saat Aggressive Strategy
Performance |
| Timeline |
| Massmutual Premier Funds |
| Saat Aggressive Strategy |
Massmutual Premier and Saat Aggressive Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Massmutual Premier and Saat Aggressive
The main advantage of trading using opposite Massmutual Premier and Saat Aggressive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Massmutual Premier position performs unexpectedly, Saat Aggressive can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Saat Aggressive will offset losses from the drop in Saat Aggressive's long position.| Massmutual Premier vs. T Rowe Price | Massmutual Premier vs. Ab Global Bond | Massmutual Premier vs. Ms Global Fixed | Massmutual Premier vs. Wisdomtree Siegel Global |
| Saat Aggressive vs. Ab Municipal Bond | Saat Aggressive vs. American Funds Inflation | Saat Aggressive vs. Fidelity Sai Inflationfocused | Saat Aggressive vs. Goldman Sachs Inflation |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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